As your target market grows, outsourcing may become a buzzword you use to help expand your audience, revenue, and profits. The demand for products and services increases daily, so outsourcing is an excellent way to mitigate the need for professional assistance managing that increase in work.
In today’s blog by Akorbi, we discuss business processing outsourcing (BPO), and why it will soon become important in foreign markets such as Asia.
Business Process Outsourcing
BPO is the process of outsourcing common tasks within a business, like payroll, administrative, social media, or customer service, to improve productivity levels for your core staff.
BPO has become very popular for many institutions and international companies due to the fact that outstanding customer service is vital to many companies’ business models and growth. How businesses perform customer service is a standard set by the company choosing to outsource, all the third party has to do is simply follow through. This is often done through contact centers.
BPO customer service is a fairly common practice in the world of expanding businesses. As a business grows, the clientele grows with it, which results in the core workforce being unable to handle the workload. A third party customer service contact center steps in and filters the callers between general calls and specialty calls needing to be serviced by the institution.
Akorbi specializes in third party BPO for expanding businesses, along with language specialization for those businesses. This allows the business outsourcing to us to focus on their daily tasks on hand, while we sort the needs of their clientele for them. This is a more efficient way of assisting customers while reducing hold times, and boosting performance satisfaction rates.
Finance and technology are two major industries that utilize BPO heavily. Most technology companies outsource their clientele and the machine operations of building their products after they are designed.
Asia is a large purveyor of software and technology companies, as well as factories for their products. Utilizing BPO in Asia makes a lot of sense if you want to expand your business.
According to the 2020 statistics report on OutsourceAsia.org, the factors for making a country a top pick for outsourcing include:
- Population Size
- Gross Domestic Product
- Human Capital Index
- Adult Literacy Rate
- English Proficiency Index
Based on the report, Asia beats out the rest of the world in the above categories for efficient, literate workers that will get the job done. The projected growth for the market size in global outsourcing is projected to reach $405.6 Billion by 2027. Asia represents one key piece of that growth puzzle.
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Contact Akorbi Today
Akorbi focuses on providing culturally sensitive, efficient, and highly sought-after language services for the purpose of connecting people on a global level. This is what makes us a top pick as a BPO company as we handle the needs of companies growing too quickly to accommodate clients’ needs alone. Contact Akorbi online or call 1-877-4-AKORBI for more information on our outsourced translation or interpretation services.